This week saw something that does not happen very often. WTI, normally trading at a discount to Brent crude, moved higher than the North Sea-focused benchmark. Traders explained it with fears of tight supply in the immediate term and some relief later this year. Some, however, doubt this relief would come soon enough to avoid something few like to talk about: demand destruction. Indonesia has started rationing fuel, capping daily fuel purchases to 50 liters per car for private consumers and sending civil servants to work from home to conserve fuel.…

Since the United States intervention in Venezuela on January 3rd, which effectively brought an end to President Nicolás Maduro’s 13-year dictatorship, the Trump administration has had a heavy hand in Venezuelan politics. The U.S. has made it clear that any new political leader, who is currently interim President Delcy Rodriguez, must cooperate with Washington. The U.S. has also staked its claim to vast quantities of Venezuelan crude. However, oil is not the only resource that the U.S. has shown an interest in, as the Trump administration…

Britain has urged some of the world’s biggest powers to adopt clean energy at a faster pace to boost energy security during a time of geopolitical turmoil. The United Kingdom’s Chancellor of the Exchequer, Rachel Reeves, appealed to world leaders to accelerate the global green transition during the G7 Foreign Ministers’ meeting, held in France from 26th to 27th March. The Group of Seven (G7) wealthy nations includes the U.S., Britain, Canada, France, Germany, Italy, and Japan, along with the European ‌Union. Reeves attended…